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Swiss franc weakened across the board today. USD/CHF used 100 DMA as a springboard for the move that took it to the highest level since January. EUR/CHF is trading at the highest levels since SNB discontinued minimum exchange rate at 1.20 in 2015. GBP/CHF is up 1000 pip from the low. A round of profit-taking would not come as a surprise at these levels.
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USD/CHF in a sideways mode
USD/CHF started the week on a strong note but then gave back all the gains and is currently holding onto 0.9875 - 0.99 support area. A break below it would probably mean another shot at 0.98 - 0.985. Watch out for SNB Jordan's speech tomorrow. I wonder what would happen if he somehow forgets to mention that the franc is "still overvalued".
USD/CHF stabilizes near parity level
Volatility in USD/CHF has been dwindling during the past two weeks with the pair coiling around the parity level. Which way will it expand remains to be seen. Momentum favors the upside. SNB's Jordan speaks later today.
USD/CHF
Chart Scale: Monthly, Weekly
Indicator Used: Bollinger Band, CCI
ATR Weekly / Monthly 390 Pips / 150 Pips
Support Resistence: 0.95498, 0.98366, 1.0331
Pair Analysis:
Monthly Chart it is to reverse to the downside, however the Green Candle could mean that the choppy uptrend since 2011 sutain. The weekly already is in bear mode but now is correcting up. If Swissy weakness will occur, this pair may continue with the choppy uptrend, even though there would be slight interruption on the Monthy Chart.…
Indicator Used: Bollinger Band, CCI
ATR Weekly / Monthly 390 Pips / 150 Pips
Support Resistence: 0.95498, 0.98366, 1.0331
Pair Analysis:
Monthly Chart it is to reverse to the downside, however the Green Candle could mean that the choppy uptrend since 2011 sutain. The weekly already is in bear mode but now is correcting up. If Swissy weakness will occur, this pair may continue with the choppy uptrend, even though there would be slight interruption on the Monthy Chart.…
Swissie on the way to 0.95
SNB is among those central banks that is not in hurry to hike rates. Moreover, the bank will likely deliberately lag behind to prevent any strengthening of the franc for which they already say is significantly overvalued.
EUR/CHF has been slowly grinding up on expectations that the ECB will move first. The pair traded to the highest this year yesterday. USD/CHF has been doing it's usual EUR/USD mirroring. Support at 0.95 in the former roughly matches the resistance at 1.15 in the latter.
EUR/CHF has been slowly grinding up on expectations that the ECB will move first. The pair traded to the highest this year yesterday. USD/CHF has been doing it's usual EUR/USD mirroring. Support at 0.95 in the former roughly matches the resistance at 1.15 in the latter.
AUD/CHF / 1. August
Chart Scale: Monthly, Weekly
Indicator used: Bollinger Band, CCI, ADX, EMA 200
Support Area: 0.7140, 0.7230, 70,43
Resistence Area: 0.75608
Pair Analysis: In the weekly Chart Aud/CHf shows resitence at Bollinger Band middle line, it shows also resistence at Zeroline of the CCI indicator. ATR, Weekly and Monthly Range are falling which shows less volatility in the Pair. However ADX increase in the Weekly which may lead to some action in the coming weeks. Without chaning fundamentals, it will get …
Indicator used: Bollinger Band, CCI, ADX, EMA 200
Support Area: 0.7140, 0.7230, 70,43
Resistence Area: 0.75608
Pair Analysis: In the weekly Chart Aud/CHf shows resitence at Bollinger Band middle line, it shows also resistence at Zeroline of the CCI indicator. ATR, Weekly and Monthly Range are falling which shows less volatility in the Pair. However ADX increase in the Weekly which may lead to some action in the coming weeks. Without chaning fundamentals, it will get …
USD/CHF remains supported in the dips
After trading to as low as 0.96 in the beginning of May, USD/CHF has been slowly but steadily recouping losses. At the last week's meeting, SNB reiterated their mantras that the Franc is overvalued and that they will continue with ultra-easy monetary policy.
That shall keep the pair supported as long as EUR/USD is in correction mode. 0.98 - 0.9825 (March low, 2011 - 2016 trendline, 50 DMA) is the next target. 0.97 - 0.9725 is likely to see some stronger demand come in.
That shall keep the pair supported as long as EUR/USD is in correction mode. 0.98 - 0.9825 (March low, 2011 - 2016 trendline, 50 DMA) is the next target. 0.97 - 0.9725 is likely to see some stronger demand come in.
GBP/CHF
Chart/Scale: Monthly/Weekly, Jforex3
Indicators: CCI 14, Bollinger Bands 20 / 2 /2
Weekly Range ATR: 245
Monthyl Range ATR: 646
Support Area: 1.1555, 1.1753, 1.1677
Resistence Area: 1.2934
Pair Analysis: GBP is in downtrend, However the low of 2011 was not broken yet, the whole move must be looked as sideways correction. I expect the pair to go close to this low again.
Middle Bollinger Band shows resistence. I expect the pair to fall from here
Monthy Chart:
Weeklx Chart:
Indicators: CCI 14, Bollinger Bands 20 / 2 /2
Weekly Range ATR: 245
Monthyl Range ATR: 646
Support Area: 1.1555, 1.1753, 1.1677
Resistence Area: 1.2934
Pair Analysis: GBP is in downtrend, However the low of 2011 was not broken yet, the whole move must be looked as sideways correction. I expect the pair to go close to this low again.
Middle Bollinger Band shows resistence. I expect the pair to fall from here
Monthy Chart:
Weeklx Chart:
USD/CHF consolidates below 0.97 ahead of the FOMC
Swiss franc is one of the best performing major currencies this year. Euro strength and U.S. dollar weakness are both supporting this. SNB meets tomorrow and no change is expected from them for at least as long as ECB keeps rates on the floor.
USD/CHF encountered some demand ahead of 0.96 before pulling from the lows. If that goes, 0.95 area looks stronger and might be backed by SNB. 0.97 - 0.975 is the initial resistance. 0.98 - 0.985 is another one.
USD/CHF encountered some demand ahead of 0.96 before pulling from the lows. If that goes, 0.95 area looks stronger and might be backed by SNB. 0.97 - 0.975 is the initial resistance. 0.98 - 0.985 is another one.
USD/CHF nearing 0.95 level
Yesterday's bout of risk-off in markets didn't impact USD/CHF as much as USD/JPY. The former continues to move in tandem with EUR/USD, especially since U.S. dollar weakness has been driving most pairs recently.
USD/CHF broke the six-month consolidation to the downside and fell below 2011 - 2016 trendline in the process. No sign of SNB as yet but EUR/CHF is well off the floor anyway. Area near 0.95 looks like a strong support with 0.97 the initial resistance.
USD/CHF broke the six-month consolidation to the downside and fell below 2011 - 2016 trendline in the process. No sign of SNB as yet but EUR/CHF is well off the floor anyway. Area near 0.95 looks like a strong support with 0.97 the initial resistance.